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senate majority leader harry reid said we should talk to vice president biden and mitch mcconnell. earlier republicans suggested changing the way inflation is calculated on changes like social security read offered this reaction late in the day. >> i was really grass fied to hear republicans taking command by social security set off the table. this should never have been on the table to begin with. there is still significant difference between the two sides negotiations continue. still time left to reach an agreement. >> meanwhile west virginia democrat joe mansion introduced the calm act trying to soften the blow as the country goes off the fiscal cliff. it would maphase in tax hikes or the years and prioritize spending cuts. he says he's frustrated and tried to do something. >> it was crossing the wires it's more than frustration it sounds like desperation at this point as they are losing hope. the chained cpi the social security adjustment you were talking about basically changes the way they configure the cost of living and would make those benefits smaller checks. does it soun
senate majority leader harry reid said we should talk to vice president biden and mitch mcconnell. earlier republicans suggested changing the way inflation is calculated on changes like social security read offered this reaction late in the day. >> i was really grass fied to hear republicans taking command by social security set off the table. this should never have been on the table to begin with. there is still significant difference between the two sides negotiations continue. still...
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maybe 7:30 where vice president biden will update the caucus on the state of the deal. senate democrats we're told have not signed off on the deal. after the caucus there is an expectation of votes around possibly 10:00 p.m. maybe later. as we get word about the senate action. and knowing about it. but it will be a while. 10:00 p.m. we're going to be back here at 8:00 p.m. you were saying about this deal, we rudely cut you off before. that the entitlement reform is not specific on the republican side. democratic side, frankly there is no spending cuts in this deal. no additional spending cuts. >> there this is the other part of this. obama doesn't -- obama believes in stimulating the economy through spending. he doesn't believe in making all the cuts. so again, like you are asking him to adopt a world view he doesn't have. >> bret: even though he talked about it many times. >> he does talk about it. >> expounding upon it. fixing social security and medicare. >> anybody who reads paul krugman, grand pubah of economics on the left his worry that the deficit will be reduce
maybe 7:30 where vice president biden will update the caucus on the state of the deal. senate democrats we're told have not signed off on the deal. after the caucus there is an expectation of votes around possibly 10:00 p.m. maybe later. as we get word about the senate action. and knowing about it. but it will be a while. 10:00 p.m. we're going to be back here at 8:00 p.m. you were saying about this deal, we rudely cut you off before. that the entitlement reform is not specific on the...
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, the name we haven't heard is vice-president joe biden. what's the significance of them bringing him in in the 11th hour discussion? >> i think it's important because he was in delaware this weekend and all of a sudden, suddenly, rushed back to the white house early today and that's significant because when they had things all boxed up a year and a half ago on the debt ceiling and looked like they'd hit a brick wall, it was joe biden reaching out to mitch mcconnell and bridged the divide and magically had a deal and some senior aides who say joe biden might be the key to unsticking this, afternoon biden and mcconnell worked on the debt ceiling, many years in the senate, obviously, together and that's why they have that relationship, there's some in the white house who call the vice-president the mcconnell whisperer, as if he has some sort of magic potion that bring people together. >> stuart? >> can i just ask you, ed, if there's any deal you've heard of that's bandied around here, any deal at all from either side which would cut spending
, the name we haven't heard is vice-president joe biden. what's the significance of them bringing him in in the 11th hour discussion? >> i think it's important because he was in delaware this weekend and all of a sudden, suddenly, rushed back to the white house early today and that's significant because when they had things all boxed up a year and a half ago on the debt ceiling and looked like they'd hit a brick wall, it was joe biden reaching out to mitch mcconnell and bridged the divide...
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. >> could joe biden be the fix? he appears to be taking over for democrats after a counteroffer to prevent a big tax hike is met by silence. harry reid says democrats couldn't respond. >> there is still significant difference between the two sides but negotiations continue. there's still time left to reach an agreement and we intend to continue negotiations. >> i am willing to get this done but i need a dance partner. >> so the senate will try to work on this again later today and we are talking about something small here if anything a continuation of the busheir raw tax cuts for most americans and renewal of long-term unemployment benefits. but payroll taxes will probably go up tomorrow for everyone. that's a big hit for paychecks and sec quest tore automatic cuts would take place. the markets investors are skiddish not knowing what's going to happen as a result of the midnight deadline. back to you guys. >> thank you very much doug luzader live from washington. we will check back with you. time for a look at who i
. >> could joe biden be the fix? he appears to be taking over for democrats after a counteroffer to prevent a big tax hike is met by silence. harry reid says democrats couldn't respond. >> there is still significant difference between the two sides but negotiations continue. there's still time left to reach an agreement and we intend to continue negotiations. >> i am willing to get this done but i need a dance partner. >> so the senate will try to work on this again...
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vice president biden, mcconnell, said to be about $100,000 apart with biden willing to preserve tax cuts for families making up $450,000 and mack connell wanting to go to 550,000. south dakota senator john thune is too on miss tick but his focus is different than senator bocker's. >> i certainly hope the negotiations occurring right now can conclude in a way that will give us an outcome that prevents those tax rates from increasing on americans across this country and also put in place some things that would actually deal with the real problem, and the real problem, mr. president, is that our country spends too much. >> reporter: democratic senator tom harkin of iowa says republicans are trying to lock if had income and estate tax rates and some permanent spending cuts in exchange for temporary hikes in unemployment insurance and other things. and he objects to that. still aways to go, uma. uma: still aways to go indeed. wendell goler on the front lines right at the white house keeping tab on all the happenings from that vantage point. thanks so much for joining us. jon: let's bring in j
vice president biden, mcconnell, said to be about $100,000 apart with biden willing to preserve tax cuts for families making up $450,000 and mack connell wanting to go to 550,000. south dakota senator john thune is too on miss tick but his focus is different than senator bocker's. >> i certainly hope the negotiations occurring right now can conclude in a way that will give us an outcome that prevents those tax rates from increasing on americans across this country and also put in place...
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he has been speaking to vice president joe biden throughout the day. it seems like there is some progress that appears to be -- rick: he said we are very, very close an says he agrees with the president who spoke during our program. when the president said the top priority is taking care of keeping those tax rates for the middle class down, mitch mcconnell saying that is the top priority and we can get it done. so let's get it done. those are probably the most optimistic words we have heard from senator mcdmonl some time. very, very close. sounds very, very promising. but there is so much to do, so much to get done parliamentary, it's sort of an organizational-wise. it's hard to get it done by midnight tonight. that what we'll be watching for in the hours ahead. arthel: for the americans who are frustrated to hear m connell say let's take care of those middle class families and we'll deal with the rest later. rick: this is a deal primarily between mitch mm connell and joe biden after some stalled efforts. they put off what they call the sequestration a
he has been speaking to vice president joe biden throughout the day. it seems like there is some progress that appears to be -- rick: he said we are very, very close an says he agrees with the president who spoke during our program. when the president said the top priority is taking care of keeping those tax rates for the middle class down, mitch mcconnell saying that is the top priority and we can get it done. so let's get it done. those are probably the most optimistic words we have heard...
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now vice president biden is said to be about 100,000 a year apart. biden is willing to preserve tax cuts for families making up to $450,000. mcconnell holding out for $550,000. a year. south carolina senator lindsey graham is not happy about it. >> in 2010 we extend the all the tax cuts because the economy was weak. in 2012, 2013, we're not going to extend the tax cuts the economy is weaker. i don't understand the economics but i do understand the politics. the president won. the president campaigned on raising rates. he will get a rate increase. >> reporter: we focus on the tax rates but that is not the only issue. the bigger issue is what the money is used for. the republicans want to use it to reduce the deficit. the democrats want to ease spending cuts for another year or so. gregg? gregg: wendell goler, thank you very much, live at the white house. we switch to the other end of the avenue and there is house speaker john boehner just arriving and, let's listen. >> [inaudible]. gregg: wow, we got a ephappy new year out of eric cantor. maybe i coul
now vice president biden is said to be about 100,000 a year apart. biden is willing to preserve tax cuts for families making up to $450,000. mcconnell holding out for $550,000. a year. south carolina senator lindsey graham is not happy about it. >> in 2010 we extend the all the tax cuts because the economy was weak. in 2012, 2013, we're not going to extend the tax cuts the economy is weaker. i don't understand the economics but i do understand the politics. the president won. the...
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biden stowed have given up his push to raise the estate tax. democrats are trying to delay spending cuts until 2015 and republicans are demanding more spending cuts to offset extended unemployment benefits and farm subsidies. lot of ground to make up. but mcconnell says his decision to reach out to biden was a good one. >> the vice president and i worked together on solutions before and i believe we can again. i want my colleagues to know that we'll keep everyone updated, the consequences of this are too high for the american people to be engaged in a political mess. i'm interested in getting a result here. >> there is no indication when the talks will resume today and neither biden nor mcconnell is predicting an agreement before midnight. but the conventional wisdom is that there is no great harm in going a few days into the new year, as long as the markets don't tank and it might even be politically easier to reach a deal after that. clayton, dave? >> juliet: thanks, we appreciate it. at issue, try to get information out of these closed door
biden stowed have given up his push to raise the estate tax. democrats are trying to delay spending cuts until 2015 and republicans are demanding more spending cuts to offset extended unemployment benefits and farm subsidies. lot of ground to make up. but mcconnell says his decision to reach out to biden was a good one. >> the vice president and i worked together on solutions before and i believe we can again. i want my colleagues to know that we'll keep everyone updated, the consequences...